Face-saving draft Copenhagen Agreement slammed as too weak

Reports are emerging that the draft agreement prepared by world leaders overnight has singularly failed to tackle the key issues of emission targets, and will instead seek to extend the Copenhagen negotiations for another year.

According to report in The Guardian, NGOs that have seen the draft agreement have slammed the proposals as far too weak.

They claim that it has scrapped the high-profile goal of limiting average temperature rises to two degrees, and includes no emission targets for either industrialised countries or emerging economies.

It also contains no mention of the contentious issue of independent verification of greenhouse gas emission cuts.

However, it does include a commitment to launch a $30bn (£18.4bn) three fast track fund for poorer nations, and reiterates support for $100bn (£61bn) a year of climate funding from 2020, but provides no details on how the cash will be raised and distributed.

The text, which was drafted by a group of 28 leaders, including Gordon Brown, would effectively extend the negotiations for another year, committing countries to try and deliver a binding deal by next year's UN climate change summit in Mexico in December.

However, in its current form the draft agreement will be seen as an almost unmitigated failure. Earlier this month, British energy and climate change secretary Ed Miliband said that the summit would be a failure if it did not agree some form of emissions targets.

The temperature target appears to have been scrapped after some developing nations argued that a two degree temperature rise would still devastate, while others pointed out that the target was meaningless while industrialised nations emission targets remained well short of what scientists say is required to limit temperature rises to two degrees.

A UN analysis that was leaked to The Guardian late yesterday showed that the emission targets currently proposed would result in global temperatures rising by an average of three degrees.

Hopes now rest on president Barack Obama breaking the deadlock, or on the EU, Japan and others securing last minute concessions from developing countries in return for an increase in their proposed emissions targets.

In one bright note, there were indications from China that it could respond to US calls for verification of greenhouse gas cuts, as long as any system did not impinge upon its sovereignty.

"Prime minister Wen Jiabao said we are willing to enhance and improve national communication," said He Yafei, the Chinese vice-foreign minister. "The purpose is to improve transparency. We are also willing in voluntary fashion to explain and clarify, if need be. We can also consider international exchange, dialogue and co-operation that is not intrusive, that does not infringe upon China's sovereignty."